headlines
Encryption research institute Rekt Fencer posted an analysis on Twitter that the Starknet token STRK may be unlocked for the first time on November 29. According to the token economics previously announced by Starknet, STRK will be unlocked linearly within 4 years. Rekt was researching the STRK token page on Etherscan. Clicking on the Holders section and selecting the first 4 holders found contract information. In the Internal Transactions section, a link to another contract was found. In this contract Within, the globalUnlockTime function provides the following response: 1701295200 uint 256 - This converts to the date of first unlocking, which when converted using the Unix converter, is November 29, 2023 22:00:00 GMT. This could indicate that November 29th is the date when investor and team tokens will first be unlocked. However, this does not necessarily mean that it will be available immediately. In many cases, investor token unlocking begins long before trading begins. In addition, the Starknet team stated that the DAO will not be established until 2024. Rekt advises users who want to receive the STRK airdrop to start making all necessary interactions on Starknet before November 29th.
cryptocurrency
Dymension launches incentivized test network Froopyland, which will reward 10 million DYM
Modular blockchain network Dymension announced the launch of the incentivized test network Froopyland for permissionless IBC RollApp deployment. In the future, 1% of the total DYM genesis supply (10 million coins) will be allocated to the Froopyland incentivized test network that will last for three months. Among them, 10% of the rewards are allocated to the top ten RollApes (1 million pieces), 10% of the rewards are allocated to test users (1 million pieces), 40% of the rewards are allocated to verification nodes (4 million pieces), 40% of the rewards are allocated to To RollApp deployers (4 million). According to previous news, Dymension completed a $6.7 million seed round of financing, led by Big Brain Holdings and Stratos, with participation from Matchbox DAO, Shalom Meckenzie of DraftKings, and others.
Bitcoin mining difficulty hits record high, raised 6.17% to 55.62 T
According to BTC.com data, the mining difficulty of Bitcoin ushered in a mining difficulty adjustment at 01:16 this morning (block height 804384). The mining difficulty was raised by 6.17% to 55.62 T, a record high. The current average computing power of the entire network is 399.93 EH/s.
Traffic in European cryptocurrency-related exchange-traded products has increased since BlackRock filed for a Bitcoin ETF in the United States. Morningsta data shows that net inflows into cryptocurrency-related ETPs registered in Europe reached 150 million euros in June, a new high since March 2022. A similar trend was seen globally, with inflows totaling $610 million (€560 million) in June and July, according to CoinShares. News of BlackRocks filing comes after nine consecutive weeks of net outflows from cryptocurrency ETPs globally, totaling $400 million. But outflows were offset by inflows after BlackRock announced its filing. (Financial Times)
Project News
Aave V3 goes live on the Base network
According to official news, Aave V3 has been launched on the Base network. According to previous news, the proposal to activate Base Network Aave V3 was unanimously approved and has been implemented on the chain. The proposal will allow Aave to complete all initial setup and activate underlying liquidity pools such as wETH, cbETH and USDbC on Aave V3 on Base.
Curve launches vote to prevent EMA price oracle manipulation
Curve has initiated a vote on steth-ng and frxeth/weth pools to prevent EMA price oracle manipulation when borrowing against ETH, as recommended by ChainSecurity. The voting deadline is August 29th. Note: In order to completely eliminate external risks, Curve V2 instead relies on internal data as a reference price. This mechanism is officially called the EMA (exponentially moving average) oracle.
Azuki’s floor price fell below 4 ETH, a seven-day drop of 28.22%
Blur market data shows that the floor price of Azuki fell below 4 ETH, and the current floor price is 3.50 ETH, a seven-day drop of 28.22%.
Investment and Financing
AI tool Ideogram AI completes US$16.5 million in seed round financing, led by a16z and others
Generative AI tool Ideogram AI announced the completion of a $16.5 million seed round of financing, led by a16z and Index Ventures, with participation from Raquel Urtasun, Jeff Dean, Andrej Karpathy, AIX Ventures and Golden Ventures. Ideogram AIs mission is to help people become more creative through generative artificial intelligence. It is developing state-of-the-art artificial intelligence tools to make creative expression easy, fun and efficient.
Financial technology company Ramp announced the completion of US$300 million in financing at a post-money valuation of US$5.8 billion. Thrive Capital and Sands Capital led the investment, with participation from General Catalyst, Founders Fund and other existing backers. The new funds will be used to accelerate product development and Expand recruitment in the second half of this year. Ramp had sent notices to cryptocurrency companies using its corporate card services that it would significantly reduce spending limits and enforce new requirements. (TechCrunch)
global policy
Srettha Thavisin was elected Prime Minister of Thailand. Thavisin had promised that if he was elected Prime Minister, he would issue 10,000 baht (about $300) in digital currency to each citizen aged 16 and above for local economic stimulus projects. It is reported that the airdrop will use a state-issued token instead of existing digital assets or cryptocurrencies, and sellers can exchange it for cash at designated banks. (CoinDesk)
WSJ: Binance has recently stopped imposing trading restrictions on Russian customers
Binance has recently processed a large number of ruble transactions, which may have violated global sanctions. A recent review of Binance’s C2C service website revealed that Binance has recently offered Russian customers at least five sanctioned Russian banks (including Ross Bank and Tinkoff Bank) as options for processing payments. Additionally, data shows that within Binance’s main exchange operations, Russian trading volume has declined compared with its peak in early 2022, but has picked up in recent months, with Binance processing $8 billion in rubles in July Cryptocurrency trading, most of which is USDT. A Binance spokesperson said that Binance complies with sanctions and denies access to the Binance platform to individuals, organizations, entities and countries that are blacklisted by the international community. Binance in its C2C service has no connection with any parties in Russia or elsewhere. Banks have no relationship whatsoever” and do not work with any partners in the traditional financial system who are on sanctions lists. (Wall Street Journal)
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The price of CRV fell due to the hack, and the downward trend in CRV prices forced Curve founder Michael Egorov to face liquidation of his $70 million borrowing position on Aave. In view of this, Egorov sold CRV through OTC in exchange for funds to repay the loan. While the terms of the deal were not officially disclosed, multiple people claiming to have been in contact with Egorov publicly stated that the tokens would be sold for $0.40 per CRV (well below the market price at the time) with a 6-month lock-up period. However, the lock-up does not appear to be enforced by law or smart contracts, and Egorov said in a statement that buyers who violate the cooperation agreement will not be held accountable, but believe they will abide by the commitment regarding the six-month lock-up period. . Observers have noticed that some parties have moved their tokens to centralized exchanges, often indicating their intention to sell. DWF Labs transferred 2 million CRV to Binance, but a DWF Labs spokesperson said, “For liquidation purposes (selling now is not a wise move), but for trading needs. When the plan is completed, we will withdraw the CRV to the chain .” In addition, Egorov also said that some projects indirectly fulfilled the six-month lock-up period commitment by voting to host CRV. (Blockworks) The market price shows that the current price of CRV is 0.47 USDT, a 7-day decline of 15.2%.
The US Federal Bureau of Investigation (FBI) announced that the FBI has traced 1,580 Bitcoins stolen by North Korean hacker groups (Lazarus Group and APT 38), worth more than 40 million US dollars, and were stored in 6 addresses. The stolen funds include $60 million from Alphapo and $37 million from CoinsPaid. The FBI believes North Korea may be selling its holdings of crypto assets, urging private entities to be vigilant and prevent transactions with these addresses or associated addresses. The hacker-related addresses announced by the FBI are as follows: 3 LU 8 wRu 4 ZnXP 4 UM 8 Yo 6 kkTiGHM 9 BubgyiG 39 idqitN 9 tYNm q3 wYanwg 3 MitFB 5 TZCjWu 3 AAUBbKJorvNhEUFhKnep 9 YTwmZECxE 4 Nk 3 PjNaSe P 8 GzLjGeu 51 JR 19 Q2 Lu 8 W 2 Te 9 oc 3 NbdrezMzAVVfXv 5 MTQJn 4 hWqKhYCTCJoB 34 VXKa 5 upLWVYMXmgid 6 bFM 4 BaQXHxSUoL Previously, the blockchain intelligence company TRM Labs released a special report stating that North Korean hackers have stolen US$200 million in cryptocurrency this year, accounting for all of 23 years. More than 20% of cryptocurrency was stolen. Over the past five years, cybercriminals have stolen more than $2 billion.
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